Uncertain times rock Man United

Manchester United are facing uncertain times in manager Alex Ferguson's final season with his side looking likely to lose their championship crown and the club constantly at the heart of takeover speculation.

United have slipped to seventh in the premier league -- their lowest position in 11 years at the start of December -- after stuttering performances on the pitch have culminated in four defeats in their last six matches.

Their 3-0 loss to Chelsea at Old Trafford on Saturday was their worst home defeat in nine years.

Meanwhile, United's share price is under pressure, prompting speculation that the club could be taken over, just as Irish racecourse magnates JP McManus and John Magnier -- close associates of Ferguson -- build up their stake in the club.

At just 130 pence per share the stock is hovering near its lowest ever level of 118p, which it slumped to in October this year -- a far cry from the heady days of March 2000, when it peaked at over 400p and the club's value soared to one billion pounds ($1.4 billion).

The stock has suffered with other football stocks, which have plummeted on concerns over spiralling costs in an industry where very few clubs are able to make a profit, as well as being part of the more widespread stock market malaise.

United are now worth around 340 million pounds ($485 million), making them vulnerable to takeover. The satellite TV operator BSkyB was prepared to pay over 600 million pounds ($856 million) in their blocked bid in 1999.

McManus and Magnier have been building up an 8.65 percent stake in United through their Cubic Expression Company.

They are now the second largest shareholders after 9.9 percent owner BSkyB, which, according to Sunday's Observer newspaper, has held exploratory talks about selling its stake to the Irish magnates.

BSkyB has said it has "no current plans" to sell its shares and a spokesman declined to say whether any talks had taken place.

But if the Irishmen did buy, owning almost a fifth of the club would give them clout.

MANAGERIAL INSTABILITY

Managerial instability has been cited as a reason for the team's stumbling performances on the pitch and has been suggested as a cause for David Beckham's delay in signing a new contract.

United have denied reports that the England captain is stalling on signing after media suggestions he was waiting until the new manager -- to take over from Ferguson at the end of the season -- was named before committing himself.

Chief executive Peter Kenyon said at the time of United's financial results in October that talks would be concluded by around Christmas.

The 26-year-old, arguably United's most valuable player, would be able to leave on a free transfer if he does not renew his current contract, which has another year to run after this season.

Various names have been touted as Ferguson's successor. Celtic's Martin O'Neill, Arsenal's Arsene Wenger, Ottmar Hitzfeld of Bayern Munich, AS Roma coach Fabio Capello and Leeds United's David O'Leary have all been suggested.

Ferguson, who has endured a poor relationship with the United board over the years, concluded negotiations on his post-managerial role at the end of last season, after earlier threatening to leave the club when a deal was not forthcoming.

He secured a five year consultancy role from next season, but if his friends have more of a say in club affairs it is possible the 59-year-old Scot's future position could change.

HEAVY INVESTMENT

Ferguson's heavyweight signings this season have failed to help United's bid for their eighth title in 10 seasons.

The purchases of Dutch striker Ruud van Nistelrooy and Argentine midfielder Juan Sebastian Veron for a combined cost of around 50 million pounds ($71.34 million) in the close season broke club and British transfer records.

Yet the team is underperforming and players are confused as Ferguson constantly changes personnel in a defence that has been less than airtight since the shock sale of Dutch international Jaap Stam to Lazio in September.

France's World Cup winning goalkeeper Fabien Barthez has been particularly notable for some glaring errors -- not least in United's 3-1 submission to Arsenal a week ago -- and is woefully short of confidence.

How well United do in the Champions League is bound to be a determining factor in their immediate state of affairs. If they fail to get through the second stage heads could roll.